Commerce logo for web pages and Wisconsin Department of Commerce Home Page Link.
Map highlighting Wisconsin
Change text size A A A A A A A
Connect with us Visit our profile on LinkedIn. Leaving commerce.wi.gov and going to http://www.linkedin.com/companies/wisconsin-department-of-commerce Follow us on Twitter. Leaving commerce.wi.gov and going to http://twitter.com/WICommerce
 
 
Bookmark and Share
IMPORTANT: As of July 1st, 2011, functions once performed by the Wisconsin Department of Commerce have been moved to other state agencies and the Wisconsin Economic Development Corporation. The former Commerce web site will continue to exist for the next several months as resources are moved to new web site locations. We will make every attempt possible to direct our users to the new locations as web resources are moved.

Governor Walker Certifies Zurex PharmAgra as Qualified New Business Venture

For Immediate Release: June 13, 2011
Contact: Barbro McGinn, Department of Commerce, 608-267-9661, Barbro.McGinn@wisconsin.gov
Cullen Werwie, 608-267-7303

MADISON - Governor Scott Walker today announced that Zurex PharmAgra, LLC, Madison, Dane County, has received the Qualified New Business Venture certification from the Department of Commerce (Commerce).

The company's certification by Commerce makes investors in Zurex PharmAgra eligible for a 25-percent tax credit and capital gains tax deferrals on qualified amounts they invest in the company.

"Spurring more venture capital investment is essential to the state's economic growth," Governor Walker said. "By encouraging investors to make crucial investments, we are turning great ideas into viable, job-creating businesses. Today, new technology firms are starting and expanding all across Wisconsin."

"We are very excited about the formation of Zurex PharmAgra and taking our antimicrobial technology beyond human health into agriculture," said President and CEO Carmine Durham." Our initial focus will be on the prevention of Dairy Mastitis which is a common and costly challenge for dairy professionals."

Zurex PharmAgra is a newly formed subsidiary of Zurex Pharma, a mid-stage specialty pharmaceutical company developing proprietary antimicrobial products designed to prevent healthcare acquired infections. Zurex PharmAgra will apply the same technology platform to the agricultural industry with an initial focus on dairy farm applications. For more information please visit www.zurex-pharma.com.

For additional information about the Qualified New Business Venture and Qualified New Business Venture Capital Gains programs, please visit commerce.wi.gov/bd/BD-Act255-QNBV.html.

-30-